Get cash flowing
Isn’t it possible, to paraphrase Keynes, for a laissez-faire economy to end up “dying on a heap of money?” Of course this is reductio ad absurdum to make the point of the need to spend to create work and jobs. It rejects the present economic and political ideology that the economic virtues are “thrift and saving”.
Isn’t the slow recovery down to a lack of political will to redistribute income and wealth? Working people haven’t enough to spend, while the rich and very rich have too much and, therefore, save. Arguably what was called in the 1930s depression “under-consumption” is economically and morally relevant today.
Ellis Thorpe
Old Chapel Walk
Inverurie, Aberdeenshire